---
schema_version: "secwatch.filing_event.v1"
accession: "0001501697-26-000081"
form_type: "8-K"
ticker: "XFOR"
cik: "0001501697"
company_name: "X4 Pharmaceuticals, Inc"
filed_at: "2026-10-08T21:23:01+00:00"
generated_at: "2026-10-12T15:21:52.631586+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# X4 Pharma secures up to $150M K2 HealthVentures loan; repays $78.7M Hercules debt, interest-only to Oct 2029

## Summary
- $80M first tranche funded at closing repaid Hercules' ~$78.7M payoff ($75M principal, interest, end-of-term and prepayment charges); up to $70M second tranche needs K2HV approval.
- Term loans bear interest at the greater of 8.55% or WSJ prime +1.55%, plus 1.0% paid-in-kind interest; interest-only through Oct 1, 2029, maturing Oct 1, 2030.
- Interest-only period extends to maturity if X4 achieves first U.S. commercial sales of mavorixafor in moderate to severe chronic neutropenia; K2HV may convert up to $15M into stock at $3.2341.
- Covenants from Oct 1, 2027: if market cap <$800M, unrestricted cash must cover 75% of obligations (40% after conditions); from Apr 1, 2029, trailing 3-month revenue ≥50% of board projections.
- X4 expects to complete enrollment in the Phase 3 4WARD trial by year-end 2026 with topline data in H1 2028; loan is secured by substantially all assets excluding intellectual property.

## SEC filing metadata
- accession: 0001501697-26-000081
- form_type: 8-K
- ticker: XFOR
- cik: 0001501697
- company_name: X4 Pharmaceuticals, Inc
- filed_at: 2026-10-08T21:23:01+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1501697/000150169726000081/0001501697-26-000081-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1501697/000150169726000081/xfor-20261007.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001501697-26-000081
- JSON: https://secwatch.observer/filing/0001501697-26-000081.json
- Plain text: https://secwatch.observer/filing/0001501697-26-000081.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.